Morson Group (Morson) has announced positive growth, including adjusted pre-tax profits of £13.4 million – a 38% rise on its 2012 figures – in its annual financial report.
The global technical recruiter and engineering company also reported news of its American and Middle East expansion. The addition of Vital Human Resources, a recruitment and engineering company that became part of Morson Group following an acquisition in November 2013, is also reported.
Financial highlights for the Group are as follows:
- Group revenues up by 17.7% to 653.5 million (2012: £555.1 million)
- Group net fee income (gross profit) up 18.0% to £49.3 million (2012: £41.8 million)
- Adjusted profit before tax up 37.7% to £13.4 million (2012: £9.7 million)
- Profit before tax up 45.3% to £13.2 million (2012: £9.1 million)
Morson’s Group Finance Director, Paul Gilmour, said: “The figures reported demonstrate how Morson has built significantly on the gains achieved towards the latter part of 2012, and are a pleasing set of results for the Group in a challenging market.”
Morson’s CEO, Ged Mason, stated: “I am delighted with the 2013 results, this reflects the hard work delivered by all my colleagues at Morson and the initiatives put in place for growth. We look forward to continuing this trend.”
The Queen Elizabeth Class aircraft carrier programme is a key project featured in Morson’s report. The company has an onsite office at the Rosyth dockyard, having supplied engineers for many stages of the design and construction. On Friday 5th July the Queen visited the site for the official naming ceremony of HMS Queen Elizabeth.
For more information about Morson Group, please visit www.morson.com
